Campofrio reports losses of €65.4 million for 2018
Campofrío Food Group went into losses in 2018 by reducing its operating result by 90% (from €120.2 million to €12 million) despite the increase in sales to €2,052 million (+ 2.5%). In total, according to Spanish magazine Expansion, the financial losses are estimated at €65.4 million (+ 144%) and the negative net result was €67.96 million (€78 million profit the previous year).
In fact, the benefits of meat in the rest of the markets have made it possible to contain the losses of €109.8 million counted in the countries of southern Europe. The company saw its turnover increase outside of Europe (+48%) while, for example, sales in Spain remained stable. On the positive side, its financial debt decreased from €308.8 million to €277.5 million, while the cash position increased from €229 million to €299 million.